And Fullerton Healthcare's Dr Tan has used technology to improve patients' experiences. The company, for example, now digitises X-ray results and has created a mobile application that serves as an alternative to the physical consultation card for medical appointments.

One of these four winners will go on to be named the top EY Entrepreneur of the Year 2015 Singapore next month. He will then represent Singapore at the annual EY World Entrepreneur of the Year award in Monte Carlo next year, where he will compete against contenders from more than 60 countries.

"As one of the largest palm oil plantation groups in the world, Golden Agri-Resources provides opportunities for employment and trade across Singapore, Indonesia and the rest of the region," said EY's Mr Loh.

"Additionally, the organisation's corporate responsibility efforts in education, infrastructure and job creation have benefited many communities in the region."

Another honorary award is the EY-Barclays Family Business Award of Excellence. This year, the award has been given to Eu Yan Sang International, which Barclays said is "a prime example of a family business that has kept true to its roots and changed with the times to create a global brand".